The Manufacturers Life Insurance Company boosted its holdings in shares of NOW Inc (NYSE:DNOW) by 8.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 257,025 shares of the oil and gas company’s stock after buying an additional 20,515 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.24% of NOW worth $2,834,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Hosking Partners LLP boosted its stake in NOW by 30.7% during the fourth quarter. Hosking Partners LLP now owns 981,124 shares of the oil and gas company’s stock valued at $10,822,000 after buying an additional 230,688 shares during the period. New Mexico Educational Retirement Board bought a new stake in NOW during the fourth quarter valued at $293,000. Cooke & Bieler LP boosted its stake in NOW by 1,008.5% during the fourth quarter. Cooke & Bieler LP now owns 1,879,980 shares of the oil and gas company’s stock valued at $20,736,000 after buying an additional 1,710,380 shares during the period. Swiss National Bank boosted its stake in NOW by 7.0% during the fourth quarter. Swiss National Bank now owns 189,400 shares of the oil and gas company’s stock valued at $2,089,000 after buying an additional 12,400 shares during the period. Finally, California Public Employees Retirement System lifted its stake in NOW by 13.1% during the fourth quarter. California Public Employees Retirement System now owns 546,670 shares of the oil and gas company’s stock worth $6,030,000 after purchasing an additional 63,320 shares during the last quarter.
DNOW has been the subject of several research analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and set a $10.00 price target (down previously from $12.00) on shares of NOW in a research note on Tuesday, February 27th. Stifel Nicolaus dropped their price target on NOW from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Seaport Global Securities raised NOW from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th. They noted that the move was a valuation call. ValuEngine lowered NOW from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Susquehanna Bancshares set a $10.00 price target on NOW and gave the stock a “hold” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $12.50.
NOW (NYSE:DNOW) last released its quarterly earnings data on Wednesday, February 14th. The oil and gas company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm had revenue of $669.00 million for the quarter, compared to the consensus estimate of $690.62 million. NOW had a negative return on equity of 2.46% and a negative net margin of 1.96%. The company’s quarterly revenue was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.29) earnings per share. sell-side analysts anticipate that NOW Inc will post 0.07 EPS for the current year.
In related news, CEO Robert R. Workman acquired 28,550 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average price of $10.51 per share, for a total transaction of $300,060.50. Following the completion of the acquisition, the chief executive officer now owns 583,616 shares in the company, valued at $6,133,804.16. The purchase was disclosed in a filing with the SEC, which is available at this link. 3.50% of the stock is currently owned by insiders.
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NOW Inc (NOW) is a global distributor to the oil and gas and industrial markets. The Company operates under the DistributionNOW and Wilson Export brands. Its segments include the United States, Canada and International. As of December 31, 2016, its segments, the United States, Canada and International, had over 200, 55 and 35 locations, respectively.
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